Select the Most Appropriate Choice for Each Person

question 34

Multiple Choice

Select the most appropriate choice for each person.
-Darwin

• A)a proponent of uniformitarianism
• B)developed the theory of catastrophism
• C)believed that giraffes have long necks because their short-necked ancestors stretched their necks and passed this change onto their offspring
• D)was a naturalist who sailed on the Beagle and studied finches
• E)wrote an essay relating population size to competition for limited resources
• F)natural historian and author; formed early ideas of the great chain of being

Distinguish between the methods of reporting for not-for-profit organizations and the implications of each method.

Distinguish between the types of funds within an NFPO and the reporting requirements for each.

Recognize correct accounting treatments for capital assets, including capitalization, amortization, and exemption conditions.

Understand the criteria for recording bequests and donations and their impact on financial statements.

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Definitions:

Trade Secrets

Information that is not known to the public, confers some sort of economic benefit on its holder, and is the subject of efforts to maintain its secrecy.

Reasonable Precautions

Measures taken that are sensible and prudent under the circumstances to prevent harm.

Patent

A legal right granted by the government to an inventor for a certain period of time, allowing them to exclude others from making, using, selling, or distributing the patented invention without permission.

Renewed

The act of extending the period of validity or effectiveness of something, such as a license, subscription, or agreement.